You may be wondering if the use of real estate agents is obsolete. There are now many services that help buyers and sellers with their real property transactions. It is possible to save significant commission rates on real estate agents, but for many, it may be more costly to fly solo. It is a big financial (and emotionally) task to buy or sell a home. It is important to hire an agent as soon as possible.
1. More Convenience/Better Access
As a realty agent, the primary job is to be a link between buyers and sellers. This allows the agent easy access to other agents’ listings. Both the seller and buyer agents are full-time professionals and know exactly what to do to reach a successful deal. For instance, if you’re looking to buy a house, a Winter Haven FL Real Estate agent will find the right homes for you, contact sellers’ agents, make appointments, and arrange to show you the houses. If you’re purchasing on your own, this will require you to play the telephone tag. This can be difficult if your goal is to buy a home that is owned.
2. Negotiating Is Tricky Business
People dislike the idea or at least the thought of negotiating a deal with an agent. However, many people feel that direct negotiation between buyers/sellers allows for better communication and helps them look out for their interests. It’s possible, provided the parties involved in a transaction are reasonable and able to communicate. Unfortunately, this relationship isn’t always easy.
What if you as a buyer love a home but don’t care for its wood-paneled walls? Or shag carpet? Or lurid kitchen? With an agent, you can vent your frustration at the current owner’s decor and whine about how expensive it would cost to remodel the home. The owner’s deceased mother may have loved the décor. Your real estate agent will be able to communicate your concerns and suggestions to the seller’s agent. Your agent could act as a messenger and help you negotiate a discounted price without making a big deal of it.
3. It Is Not Easy To Deal With Contracts
You must sign an offer to buy a contract before you can purchase or sell a house. If you don’t meet the financing conditions and buy a home that has a mortgage, or you lose your deposit, the seller can sue you.
An experienced realty agent will deal with the same terms and conditions every day. This means that they are well-versed in how to use them, when to safely remove them, and what to do to protect your interests, no matter if you’re selling or purchasing a house.
4. Real Estate Agents Can’t Lie
There are more repercussions for licensed professionals than for private buyers or sellers, though. A license agreement with a real estate agent, which is a traditional, full-service commission agreement that allows the agent to represent you, will create a fiduciary relationship between you and your agent. In other words, an agent is obligated by license law (not theirs) to act in the client’s best interests.
While buyers and sellers should seek legal advice when working together, as they are expected to act in each other’s best interests, there’s not much you can do if the seller or buyer has made multiple offers. Being able to retain a lawyer whenever you’re interested in buying or selling a property could save you a lot more than the agent’s commissions.